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Trade - Service
Aug 27, 2019 / 11:07

Hanoi’s budget revenue up 14% to nearly US$7 billion in Jan-Aug

Ngoc Mai

Revenue collection from the state sector stood at VND36.51 trillion (US$1.57 billion), up 22.5% year-on-year, while that of the foreign invested sector was VND16 trillion (US$688.87 million), up 4.4% and private sector tax revenue was VND34.62 trillion (US$1.49 billion), up 23.7%.

Hanoi’s budget revenue in the first eight months of 2018 reached VND158.92 trillion (US$6.84 billion), equivalent to 64.7% of the year's target and up 14% year-on-year, according to the municipal Statistics Sub-department. 
Hanoi's state collection revenue in August.
Shares of Hanoi's state collection revenue in August. Data: Hanoi Statistics Department. Graphic: Ngoc Mai.
Upon breaking down, revenue collection from the state sector stood at VND36.51 trillion (US$1.57 billion), up 22.5% year-on-year, while that of the foreign invested sector was VND16 trillion (US$688.87 million), up 4.4%, and the private sector contributed VND34.62 trillion (US$1.49 billion), up 23.7%. 

Additionally, revenues from income tax were estimated at VND17.8 trillion (US$766.34 million), up 18.5% year-on-year, while land-use rights yielded VND10.65 trillion (US$458.53 million), down 52.1%, among others. 
 
Hanoi's trade activities in January - August.
Hanoi's trade activities in January - August. Unit: million USD. Data: Hanoi Statistics Department. Graphic: Ngoc Mai. 
During the January – August period, Hanoi’s exports reached US$10.71 billion, up 15.5% year-on-year, of which equipment and computer parts made up the largest proportion with US$1.7 billion, up 6.5%. It is followed by textile and garment with US$1.4 billion, up 18.6%; machinery and accessories with US$1.17 billion, up 4.9%; transportation and parts with US$909 million, up 26.8%. 

Hanoi imported goods worth US$20.31 billion in the period, up 1% year-on-year. Of the total, eight out of 14 categories of goods witnessed higher import growth year-on-year, including computer, electronic devices and parts with an increase of 30.9%; transportation vehicles and parts with 74.4%; household appliances and parts with 22.5%, among others, while the remaining six had seen declines in import growth, including petroleum products, steel, and animal feed, among others. 

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